BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0025%/8h= +2.8% APRnext payment +$0.03 per $10,000 · paid last 24h −0.006%

Price spread now: Phoenix against Deribit+0.021%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)+0.141%+$14 · spread now +0.021%, 7d avg +0.039%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	805.45	0.0100	pay 0.0013% / 1h	8m 31s	$1.6M	$165K	25x
Short	Phoenix BNB	805.62	0.0125	get 0.0016% / 1h	8m 31s	$173K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee PhoenixbpOrdersPrice spread, now +0.021%Rate

Funding earned: $5.28
Price spread: +0.021% → +0.039%: −$1.78
Slippage, 4 orders: −$28.3
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.81
Costs to cover: 0.423%
Break-even: 58.5 days

Slippage from Deribit: live order book, 1 min ago; Phoenix: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 1 min ago	1.74 bp	6.8 bp −$7	13.2 bp −$132	doesn't fit	doesn't fit
Sell Phoenix live order book, 8 min ago	0.99 bp	12.4 bp −$12	43.1 bp −$431	doesn't fit	doesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0195% / S +0.0371%	1h	804.69	−0.094%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.20	−0.031%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.45	0.000%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.70	+0.031%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.74	−0.088%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.74	−0.088%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.06	−0.048%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.102%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	804.96	−0.061%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	804.36	−0.135%	$139.6M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	−0.037%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.86	−0.073%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	805.38	−0.009%	$6.4M	$18.8M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.31	−0.141%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.83	−0.077%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.60	−0.106%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.10	−0.043%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.60	−0.106%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.58	−0.108%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.37	−0.134%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.53	+0.010%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.72	+0.034%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.68	−0.096%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.72	−0.091%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.07	−0.048%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.29	−0.019%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0100%	1h	805.45	long leg	$1.6M	$165K	25x
HTX BNB-USDT	+0.0100%	8h	804.90	−0.068%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.32	−0.016%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.23	−0.152%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.16	−0.036%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.70	+0.031%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	805.41	−0.005%	$520.3M	$805.9M	75x	as long as short
Phoenix BNBshort	+0.0125%	1h	805.62	+0.021%	$173K	$35K	10x
Phemex BNBUSDT	+0.0135%	8h	805.31	−0.017%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0195%	1h	805.00	−0.056%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0207%	1h	805.33	−0.015%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.01	−0.055%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.33	−0.015%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0238%	1h	804.86	−0.073%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.29	−0.020%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	−0.010%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.49	−0.119%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.64	+0.024%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.070%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0650%	1h	805.86	+0.051%	$3.0M	$5.5M	40x	as long as short